After seven straight weeks to the downside, the S&P 500 finally reversed that trend with a positive week, closing Friday at 4158. Economic news was light with the core personal consumption expenditures price index rising 4.9% in April, down from the March 5.2%. Additionally, the May University of Michigan consumer sentiment for the US was revised down to 58.4, the lowest since August 2011. That said, it appears as if this reversal was due more to a technical oversold condition as the S&P 500 had three daily moves greater than one percent. Next week is jobs week culminated by Fridays unemployment rate. For the TSP, we are still in that planned downtime until the first week of June. If you would like fund performance in the meantime, you can use SPY, ^DWCPF, EFA and BKAG as proxies for C, S, I and F funds. On Tuesday we also hosted a TSP TIPS Trending Investment Portfolio Strategies Zoom call for our subscribers. The presentation runs for 23 minutes followed by Q and A and can be found on You Tube by searching on the above-mentioned title. At 8:10 we discuss the Two Bar Reversal strategy which gave us a buy signal on Friday, so stand by for a mid-week alert once access is restored.
After seven straight weeks to the downside, the S&P 500 finally reversed that trend with a positive week, closing Friday at 4158. Economic news was light with the core personal consumption expenditures price index rising 4.9% in April, down from the March 5.2%. Additionally, the May University of Michigan consumer sentiment for the US was revised down to 58.4, the lowest since August 2011. That said, it appears as if this reversal was due more to a technical oversold condition as the S&P 500 had three daily moves greater than one percent. Next week is jobs week culminated by Fridays unemployment rate. For the TSP, we are still in that planned downtime until the first week of June. If you would like fund performance in the meantime, you can use SPY, ^DWCPF, EFA and BKAG as proxies for C, S, I and F funds. On Tuesday we also hosted a TSP TIPS Trending Investment Portfolio Strategies Zoom call for our subscribers. The presentation runs for 23 minutes followed by Q and A and can be found on You Tube by searching on the above-mentioned title. At 8:10 we discuss the Two Bar Reversal strategy which gave us a buy signal on Friday, so stand by for a mid-week alert once access is restored.